Italy OTC Drugs Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Italy OTC Drugs Market is projected to register a CAGR of 6.8% during the forecast period (2022-2027).

The Italian healthcare industry was one of the severely impacted countries by the COVID-19 outbreak in the world as the country was already facing weak economic conditions and a cut to public health services due to budgetary requirements in the last decade. Due to this emergency, the price was paid by the healthcare professionals. According to a study “Impact of COVID-19 outbreak on Italian healthcare workers versus general population: Results from an online survey” published in Open Access general in July 2021, it was found that healthcare workers were severely affected by the pandemic as compared to the general population. ​ The healthcare workers and doctors in the country were taking different measures to stop the spread of the coronavirus. However, with product launches, the market started growing. For instance, in June 2020, the Hero Group and Angelini Holding entered a joint venture (JV) to enter the Italian baby and toddler food market with a 100% organic portfolio. The products are sold in different channels - baby specialist stores, pharmacies, selected grocery retailers and drugstores throughout Italy, and eCommerce. Hence, in the upcoming period, the market is likely to grow in the future.

In 2019, Italy spent around USD 174.19 billion on healthcare, according to data from the Organization for Economic Co-operation and Development (OECD). The country also invested around 8.7% of its total GDP in healthcare expenditure in 2019. This is expected to boost market growth since the investment can be done to aid the development of over-the-counter drugs in Italian pharmaceutical companies leading to greater scope for market growth. The launch of healthcare and consumer products in the country is another factor in the growth of the market. The common conditions, like flu, pain, and others, have been reported to be increasing in the country, which contributes to self-medication and OTC sales. For instance, according to the recent report in InfluNet, in 2020, almost three million cases of flu have been reported in Italy since the start of the winter season, and the number of confirmed cases is rising. According to a study report by Latina R et al., published in Pain Management Nursing 2019, in Italy, chronic pain affected more than a quarter of the population, whereas the average prevalence of chronic pain in Europe was 21%. The high prevalence of chronic pain in the country is due to the high percentage of Italian people who do not receive treatment, even after the passing of law 38/2010, the right to access pain management in Italy. Furthermore, the presence of well-established market players in the country with major OTC brands, such as Tachipirina (pain and fever), Rinazina (Rhinitis), and others, are expected to further fuel the market growth in the country. Hence, owing to the rising burden of diseases coupled with the favorable regulations and new product launches is expected to boost the market growth in Italy during the forecast period.

However, the high probability of OTC drug abuse and lack of awareness is likely to hinder the market growth.

Key Market Trends

Cough, Cold, and Flu Products are Expected to Hold a Significant Market Share Over the Forecast Period

Factors such as the increasing geriatric population, increasing cough and flu cases, and product launches by key market players are expected to increase the segmental growth in the country in the upcoming period. According to the World Population Aging 2019 report, published by the United Nations, in 2019, there was 13,934 thousand population aged 65 years or over in Italy. By 2050, this number is expected to rise to 19,585 thousand people. At that time, it would represent 36.0% of the population in Italy. The massive increase in the geriatric population is expected to increase the prevalence of diseases as the older population is prone to diseases due to weak immune systems. This is expected to boost the market growth in the country. Increasing flu cases are another factor for the growth of the segment. For instance, in March 2020, an article published titled "How Many People Die Annually From Flu In Italy" stated that Italy reported that since flu season started in October 2019, over 2 million cases of flu were recorded, resulting in 240 deaths. Most of these fatal cases were elderly patients who suffered complications as a result of the virus. Product launches are another factor in the growth of the market. For instance, in October 2020, GSK Consumer Healthcare launched Robitussin Naturals, the brand's first-ever line of drug-free products that provide relief from occasional cough. Hence, the above factors and research studies are further expected to improve the market growth in this segment.

Competitive Landscape

The United Kingdom OTC drugs market is fragmented and consists of several major players. In terms of market share, a few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are Pfizer Inc, Bayer plc, Perrigo Company plc, GlaxoSmithKline PLC, and Johnson & Johnson, among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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